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Payment Conversion
How does payment conversion work?
The conversion rate – the proportion of visitors to your site that become paying customers – is where merchants need to be looking to grow their businesses. In practice, 20% of transactions never reach the completion step. Optimising your payment conversion rate means you can generate more revenue per visitor and improve your customer satisfaction, and you can do it in several ways.
WHY A TRANSACTION FAILS
A payment can be stopped at different steps across the transaction lifecycle for many reasons:
- consumer drops out because there are too many steps
- technical issues across the value chain
- insufficient funds in the shopper’s bank account …
It also varies a lot based on the nature of your business and the types of transactions you are processing. However, no matter what type of business you have, it is always valuable to look at your data to optimise the online payment process.
Discover my performance
Our Business Intelligence Tool brings together your payment performance insights on one intuitive platform:
- overall flow & conversion
- key metrics & dashboards
- payment methods
- transaction values
- reasons for rejection
- 3D Secure details
- filtering options ...
PAYMENT EXPLAINED
Everything you need to know about payment ›PPAYMENT PROCESSING
How does Payment Processing work ›PAYMENT METHODS
Offer the right paymentmethod ›
PAYMENT EXTENSIONS
Plug-ins for eCommerce platforms ›